IFRS and US GAAP, with Website A Comprehensive Comparison

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  • Edition: 1st
  • Format: Paperback
  • Copyright: 2012-04-03
  • Publisher: Wiley
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Supplemental Materials

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  • The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.


IFRS and US GAAP: A Comprehensive Comparision provides instruction in accounting under International Financial Reporting Standards (IFRS) in the context of US Accounting Standards. Practical and theoretical application is a major component of the book, emphasizing the much greater degree of professional judgment that is needed for IFRS. The most compelling feature is that it prepares US accountants to be facile and knowledgeable with IFRS using the substantial similarity it has with US GAAP as a context. A heavy emphasis is placed on practical examples. The book also includes a case study using IFRS 1 - First Time Adoption. In addition to traditional text, theoretical summaries simplify the understnding of the topic within the overarching IFRS and US GAAP frameworks.

Author Biography

Steven E. Shamrock, CPA, MBA, CMA, is Corporate Controller of AkzoNobel Inc., the US parent company of AkzoNobel NV, a global Fortune 500 company and major producer of specialty chemicals. He was formerly with BP America Inc., where he managed the preparation of consolidated external financial statements that were converted from IFRS to US GAAP. He has specialized in IFRS in the facets of conversion, application, and policy and serves on the IFRS AICPA SAG. He is also a frequent speaker on IFRS at AICPA conferences.

Table of Contents

About the Author vii

Introduction ix

1 Standard Setting 1

2 The Framework 5

3 Property, Plant, and Equipment 13

4 Inventory 19

5 Provisions and Contingencies 25

6 Intangible Assets 35

7 Share-Based Compensation 39

8 Financial Instruments 45

9 Leases 59

10 Revenue 69

11 Income Taxes 111

12 Investments in Subsidiaries 129

13 Postretirement Benefits 171

14 Impairments 189

Index 203

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